Banking and Taxes for Diamantairs
Knowing how to safely navigate the financial waters in a particular country is critical to running a successful business. When a particular tax regime exists for a specific industry in that country, being correctly informed is even more essential.
AWDC supports Belgian diamond companies in navigating the complexities of the regulatory landscape by providing valuable resources such as insightful documents, practical templates, and engaging webinars. This guidance empowers companies to focus on their business with confidence and peace of mind.
Basic Banking Service
Today, entrepreneurs in the diamond sector face growing challenges in opening bank accounts—an essential cornerstone of any business. AWDC is fully dedicated to fostering better and more constructive relationships with banks, striving to serve as a bridge between financial institutions and Belgian diamond dealers.
In January 2023, the “Royal Decree on Basic Banking Services for Companies” was published in the Belgian Official Gazette, marking a significant milestone in addressing blanket de-risking practices. This banking law represents a critical step toward a more inclusive policy, requiring banks to assess each client on a case-by-case basis and evaluate risks individually.
Companies seeking to utilize Basic Banking Services for Companies can submit their applications online via the website of the Basic Banking Service Chamber. AWDC is pleased to announce that, as of February 28, 2023, companies can apply for this service via the following link:
